Global Carbon Nanotubes Market Projected to Reach US$6.81 bn by 2023, U.S. Dominated Demand in 2014

Transparency Market Research has published a new report titled “Carbon Nanotubes (Single-wall Carbon Nanotubes and Multi-wall Carbon Nanotubes) Market for Polymers, Energy, Electrical & Electronics, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015–2023.” According to the report, the global market for carbon nanotubes was valued at US$1.13 bn in 2014 and is anticipated to reach US$6.81 bn in 2023, expanding at a CAGR of 22.1% between 2015 and 2023.

In terms of demand, Asia Pacific held the largest share of over 40% of the global carbon nanotubes (CNT) market in 2014. The market for carbon nanotubes in the region is primarily driven by increasing demand for CNTs in applications such as polymers, electricals & electronics, energy, and other industrial applications. Countries such as India, China, Japan, Taiwan, and South Korea are estimated to drive the carbon nanotubes market in the near future. North America accounted for the second-largest share of the global carbon nanotubes market in 2014. Europe is projected to exhibit stable demand for carbon nanotubes during the forecast period. Latin America and Middle East & Africa are expected to witness sluggish rise in demand for carbon nanotubes during the forecast period. However, high product cost and processing difficulties are likely to hamper demand for carbon nanotubes across the globe.

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Demand for carbon nanotubes in polymers, electricals & electronics, and energy applications is anticipated to increase in the near future due to growth in various end-user industries in the emerging economies. Carbon nanotubes are extraordinary and advanced materials in the nanomaterials category. A carbon nanotube is an allotrope of carbon at nanoscale. These carbon/graphite sheets are rolled into tubes to form a cylindrical structure with a diameter of 1 nm. This cylindrical structure provides exceptional properties that make carbon nanotubes strong and lightweight. Increase in technological advancements, product innovation, and high growth potential of emerging economies are projected to provide opportunities for the carbon nanotubes market during the forecast period.

In terms of demand, the U.S. dominated the market for carbon nanotubes across the globe in 2014. Asia Pacific is expected to drive the global carbon nanotube market in the near future. In terms of demand, China and Japan dominated the carbon nanotubes market in Asia in 2014. Polymers and electricals & electronics accounted for over 75% share of the carbon nanotubes market in 2014. Countries such as South Korea, Taiwan, Germany, France, Italy, the U.K., and Spain have been major consumers of carbon nanotubes in the past few years. This trend is anticipated to continue during the forecast period. Brazil accounted for the largest share of the carbon nanotubes market in Latin America in 2014. Industries such as polymers, energy, and electricals & electronics were key contributors to market growth. Middle East & Africa is anticipated to exhibit growth in the carbon nanotubes market in the near future.

Carbon Nanotubes Market – Product Segment Analysis

  • Single-wall Carbon Nanotubes
  • Multi-wall Carbon Nanotubes

Carbon Nanotubes Market – Application Segment Analysis

  • Polymers
  • Energy
  • Electricals & Electronics
  • Others (Medical, Chemical, Optical Devices, etc.)

Carbon Nanotubes Market – Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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